The President of Dangote Group, Alhaji Aliko Dangote, has reaffirmed plans to develop a large-scale industrial and free trade zone at Olokola in Ilaje Local Government Area of Ondo State.
He described the development as a power-driven investment hub designed to attract manufacturers and reduce infrastructure constraints for investors.
Dangote stated this on Monday during a visit to Governor Lucky Aiyedatiwa at his office in Akure, the state capital.
According to him, the renewed investment framework covers power generation, cement production, gas infrastructure and industrial manufacturing.
He said the proposed Olokola project would go beyond a conventional free trade zone, explaining that it would be fully equipped with power, water and logistics infrastructure to enable investors to operate without delays associated with basic utilities.
“We want to create the biggest free trade zone where investors can just come and plug in. We will generate power, provide infrastructure and remove the bottlenecks around doing business,” he said.
Dangote also said the initiative was designed to address Nigeria’s long-standing power deficit, which he described as the country’s biggest industrial constraint for more than 30 years, noting that most manufacturers currently rely on self-generated electricity.
He lamented that the absence of reliable power had slowed industrial expansion across the country, adding that the new model would integrate dedicated energy supply into the industrial zone.
Related News CBN orders banks, fintechs to store payment data locally
CBN unveils new benchmark rate to boost financial market credibility
FG, states, LGs share N2.26tn as April revenue climbs
He also disclosed plans to integrate gas infrastructure through an east-west gas corridor to support energy-intensive industries within the zone.
Responding, Governor Aiyedatiwa welcomed Dangote’s renewed investment drive in the state, describing it as a major milestone in Ondo State’s industrialisation agenda.
He said the proposed project aligns with his administration’s efforts to position the state as a leading industrial destination in the South-West, noting its strategic location along the Lagos-Calabar Coastal Highway corridor.
Aiyedatiwa also highlighted the state’s deep seaport licence, describing it as a key logistics advantage capable of handling large vessels without transshipment.
“The limestone deposits in the state have been tested and found suitable for industrial use, signalling potential for cement production expansion.
“A technical committee has been established to engage with the Dangote Group on legal, land, community and operational frameworks, and we are ready to nominate a state representative to the project board,” the governor stated.
He assured full government backing for the initiative, stressing that Ondo State would work closely with investors and host communities to ensure smooth implementation and long-term sustainability.
Read the full article at The Punch →
NG